Vehicle diagnostics includes profiling of real time vehicle performance in terms of oil pressure, temperature, fuel consumption, tyre pressure and more. All such detailed information is sent to the back end to increase the performance, enable preventable maintenance and decrease maintenance costs. Vehicle diagnostics system is generally a part of auto service and is widely utilized in many vehicle service stations. Rising production of vehicles is anticipated to drive the growth of the vehicle diagnostics system market in upcoming years. Rise in customer preference for luxury cars with latest high-tech features is expected to boost the vehicle diagnostics system market during the forecast period. Vehicle diagnostics help in preventing the unwanted damages which may happen if required precautions are not taken regarding vehicle?s condition.
MARKET SCOPE
The "Global Vehicle Diagnostics Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the vehicle diagnostics market with detailed market segmentation by vehicle type, application, connectivity, and geography. The report provides key statistics on the market status of the leading vehicle diagnostics market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on vehicle type, the global vehicle diagnostics market is segmented into light-duty vehicle, commercial vehicle and heavy commercial vehicle.
- On the basis of application, the market is segmented into automatic crash notification, vehicle tracking, vehicle health alert and roadside assistance.
- Based on connectivity, the market is bifurcated into 3G, 4G LTE, Wi-Fi and Bluetooth.
MARKET DYNAMICS
Drivers:
- Growing inclination towards latest technology.
- Rising urbanization and increasing per capita disposable income to boost market growth of vehicle diagnostics.
- New market players are entering the market considering the increasing demand for vehicle diagnostics.
Restraints
- Compatibility of latest technology with some vehicles.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The vehicle diagnostics market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the vehicle diagnostics market in these regions.
IMPACT OF COVID-19 ON VEHICLE DIAGNOSTICS MARKET
COVID-19 began in Wuhan (China) from December 2019 and since then it has spread across the world at a fast pace. The US, Russia, Brazil, India, the UK, France, Italy, Turkey and Spain are some of the worst affected nations in terms of confirmed cases and reported deaths. The pandemic of COVID-19 has seriously affected some of the industries and economy of various countries mainly due to travel restrictions, business shutdowns and lockdowns. Due to travel limitations and restrictions, number of vehicles running on road became very less. So, the chances of wear and tear itself has gone down. Also, impact of COVID-19, has made the customers more risk-averse towards high-end vehicles and new technologies. This hampers the growth of the vehicle diagnostics market in the current scenario.
MARKET PLAYERS
The report covers key developments in the vehicle diagnostics market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from vehicle diagnostics market are anticipated to lucrative growth opportunities in the future with the rising demand for vehicle diagnostics in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the vehicle diagnostics market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- AVL DiTEST GmbH
- Continental AG
- Delphi Technologies (BorgWarner Inc.)
- Denso Corporation
- MAGNA Telemotive GmbH
- Robert Bosch GmbH
- Snap-on Incorporated.
- Softing AG
- Vector Informatik GmbH
- Vidiwave Ltd
The Insight Partner?s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.